Blue Trust Inc. Has $22.72 Million Stock Position in Texas Pacific Land Corporation $TPL

Blue Trust Inc. raised its holdings in shares of Texas Pacific Land Corporation (NYSE:TPL) by 171.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 79,108 shares of the financial services provider’s stock after acquiring an additional 49,955 shares during the quarter. Blue Trust Inc. owned approximately 0.11% of Texas Pacific Land worth $22,721,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Dimensional Fund Advisors LP increased its position in shares of Texas Pacific Land by 13.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 147,557 shares of the financial services provider’s stock worth $137,747,000 after purchasing an additional 17,107 shares during the last quarter. Wealth Enhancement Advisory Services LLC raised its stake in shares of Texas Pacific Land by 187.5% during the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 37,764 shares of the financial services provider’s stock worth $11,095,000 after purchasing an additional 24,629 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Texas Pacific Land by 200.6% in the 4th quarter. Nordea Investment Management AB now owns 3,024 shares of the financial services provider’s stock valued at $873,000 after buying an additional 2,018 shares during the last quarter. Corsicana & Co. grew its stake in shares of Texas Pacific Land by 200.0% in the fourth quarter. Corsicana & Co. now owns 5,070 shares of the financial services provider’s stock valued at $1,456,000 after buying an additional 3,380 shares in the last quarter. Finally, MOR Wealth Management LLC bought a new position in shares of Texas Pacific Land in the fourth quarter valued at $3,859,000. 59.94% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

TPL has been the topic of several analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Texas Pacific Land in a research report on Friday, March 27th. Wall Street Zen raised shares of Texas Pacific Land from a “sell” rating to a “hold” rating in a research report on Sunday, March 15th. KeyCorp boosted their price objective on shares of Texas Pacific Land from $350.00 to $639.00 and gave the stock an “overweight” rating in a research note on Monday, February 23rd. Finally, Zacks Research raised shares of Texas Pacific Land to a “hold” rating in a report on Wednesday, December 3rd. One equities research analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $639.00.

Texas Pacific Land Trading Down 7.5%

TPL stock opened at $438.96 on Thursday. Texas Pacific Land Corporation has a 1-year low of $269.23 and a 1-year high of $547.20. The business’s 50 day simple moving average is $460.12 and its 200 day simple moving average is $360.38. The firm has a market capitalization of $30.26 billion, a PE ratio of 62.92 and a beta of 0.76.

Texas Pacific Land (NYSE:TPL) last announced its quarterly earnings results on Wednesday, February 18th. The financial services provider reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.73 by $0.06. Texas Pacific Land had a return on equity of 36.18% and a net margin of 60.31%.The business had revenue of $211.60 million during the quarter, compared to the consensus estimate of $204.00 million.

Texas Pacific Land Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 16th. Investors of record on Monday, March 2nd were issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend was Monday, March 2nd. This is a positive change from Texas Pacific Land’s previous quarterly dividend of $0.53. Texas Pacific Land’s payout ratio is presently 34.38%.

Insider Activity

In related news, Director Donna E. Epps acquired 895 shares of the business’s stock in a transaction on Wednesday, February 25th. The stock was purchased at an average cost of $510.45 per share, for a total transaction of $456,852.75. Following the completion of the transaction, the director directly owned 2,921 shares of the company’s stock, valued at approximately $1,491,024.45. The trade was a 44.18% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Stephanie Buffington sold 1,608 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The stock was sold at an average price of $503.00, for a total transaction of $808,824.00. Following the sale, the chief accounting officer owned 2,133 shares of the company’s stock, valued at $1,072,899. This trade represents a 42.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders own 6.90% of the company’s stock.

Texas Pacific Land Profile

Texas Pacific Land Corporation (NYSE: TPL) is a Texas-based land management company that derives revenue from the ownership and stewardship of large tracts of land and associated mineral rights in West Texas. The company’s origins trace to 19th century land grants associated with the Texas and Pacific Railway; over time those grant holdings have been retained and managed as a standalone corporate asset base. Texas Pacific Land is publicly listed and operates as a landowner and resource manager rather than as a traditional oil and gas producer.

The company’s primary activities include management of surface rights and leasing of land for energy and other commercial uses, administration of mineral royalty interests, and provision of water and related services to industrial customers.